Good Day Everyone
The Main Issue: [ Fixed Assets Appreciation and Impairment ]
Case Scenario:
As per the IFRS, we have to make revaluation to some of the Fixed Assets. Hence, how to handle it in the ERPNext?
e.g: Building worth 2,000,000$ with 10% Depreciation per year. By the end of the year, we got advised by the external auditor that there is an impairment of 300,000$ on the Building (Asset). Now, how to record the Impairment entry and how to calculate the new Asset Value (1,700,000$) After Depreciation in the System?
2nd Case Scenario:
Building worth 2,000,000$ with 10% Depreciation per year. By the end of the year, we got advised by the external auditor that there is an Appreciation of 300,000$ on the Building (Asset). Now, how to record the Appreciation entry and how to calculate the new Asset Value (2,300,000$) After Depreciation in the System?
I do hope that ERPNext Foundation takes this issue seriously and solve it ASAP.
And if I have missed a solution to this issue, I would appreciate any help or Advise.
Thank You
